SÃO PAULO (Metal-Pages) 27-Nov-08. Duty-paid ferro-molybdenum prices have moved back up, bucking a recent run of events, as a generally slow trading week comes to a close and with all other noble alloys unchanged.

“The market does look a little perkier, there has definitely been a lot of interest in the last couple of days,” said one trader.

Material is now said to be fetching $27-27.50/kg, with buyers said to have been caught by surprise by the relative scarcity of material available.

After reaching a November peak of $28.50-29.50 /kg at the start of the month, material dipped back down to $26-27/kg, though well above its post credit crunch low of $19.25-19.75/kg in the first week of April.

“Femo is going back up again” said a second trader. “It’s hard to find anything still below $27/kg, there has been a little bit of a correction.”

“All the lower priced parcels have gone,” a third trader said.

While agreeing there may be a little less material around, a fourth trader said it may not tell the whole story.

“Maybe people are positioning themselves in anticipation of the fact that prices will probably go up early next year,” the trader said.

With vanadium pentoxide still at a nominal $6.70-7.40/lb, ferro-vanadium is trading at $23.50-24/kg.

“There has been some business that has been done probably in the 22’s, but I don’t think they are there anymore,” said a ferro-vanadium trader.

“Nobody in the trade is interested in selling down at that number,” the trader added.

There appears to be more upward pressure on ferro-niobium, though with no confirmed business at higher levels.

Though prices are still at $43-43.50/kg, one ferro-niobum trader reported hearing of business done at $43.75/kg.

“It’s very difficult to find, if you do come across a parcel it's offered at $43.75-44/kg and trying to put a margin on it doesn’t work, people are reluctant to pay the high prices so it’s a bit contradictory,” the trader said.

“There is a bit of tightness in the free market,” another trader confirmed.

Meantime, ferro-tungsten is still fetching $25.50-26/kg and APT $190-200/mtu.

http://www.metal-pages.com/news/story/43567/